UBS Group Issues Positive Forecast for DT Midstream (NYSE:DTM) Stock Price

DT Midstream (NYSE:DTM) had its price objective boosted by UBS Group from $102.00 to $115.00 in a research note issued to investors on Thursday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company dropped their target price on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Morgan Stanley raised their price objective on shares of DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a report on Tuesday. Bank of America initiated coverage on DT Midstream in a report on Monday. They issued a “buy” rating and a $110.00 target price on the stock. Raymond James raised their price target on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. boosted their price objective on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $105.08.

DT Midstream Stock Performance

DT Midstream stock opened at $97.15 on Thursday. The firm has a market capitalization of $9.87 billion, a P/E ratio of 23.64 and a beta of 0.80. The stock has a fifty day moving average price of $99.35 and a two-hundred day moving average price of $95.60. DT Midstream has a 52-week low of $59.50 and a 52-week high of $114.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.82 per share. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a yield of 3.38%. The ex-dividend date is Monday, March 17th. DT Midstream’s payout ratio is currently 91.11%.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was bought at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, the director now owns 38,653 shares of the company’s stock, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have acquired 1,170 shares of company stock worth $103,357. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new stake in DT Midstream in the third quarter valued at about $29,000. Bessemer Group Inc. increased its stake in shares of DT Midstream by 61.6% in the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after acquiring an additional 117 shares during the last quarter. AdvisorNet Financial Inc increased its stake in shares of DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after acquiring an additional 163 shares during the period. Finally, Brooklyn Investment Group bought a new position in DT Midstream during the 3rd quarter worth approximately $40,000. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Company Profile

DT Midstream, Inc, together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.